The Adimab and GV-backed covid-19 antibody treatment developer has floated on Nasdaq at a $1.84bn valuation, about a year after it was founded.
Adagio Therapeutics, a US-based coronavirus antibody therapy developer backed by drug discovery firm Adimab and internet technology group Alphabet, raised more than $309m in an initial public offering on Friday.
The offering took place on the Nasdaq Global Market and involved the company issuing 18.2 million shares priced at $17 each, in the middle of the IPO’s $16 to $18 range, valuing it at $1.84bn. Its shares closed at $20.88 at the end of Friday.
Founded in 2020, Adagio…
